negativeSYS.SOURCE: TechCrunch• 2026-09-16T19:35:29Z

Automattic Executives Sign Reciprocal Severance Agreements Amid Leadership Crisis

#corporate governance #executive compensation #legal agreements #leadership crisis

During Matt Mullenweg's brief ouster, Automattic's interim CEO and legal chief signed reciprocal severance agreements granting $8.15M in compensation, including accelerated equity and health benefits, with legally defined 'cause' standards favoring executives. The agreements include strict post-employment restrictions and clauses ensuring executives avoid severance claims related to temporary leadership roles.

CFO Mark Davies and legal chief Andy Missan signed each other’s severance agreements while Matt Mullenweg was on leave, providing a year of salary and additional equity vesting if their departures qualify for the benefits.

Read original article

*** END OF TRANSMISSION ***

> META DEVELOPS CAMERA-FREE SMART GLASSES AMID PRIVACY CONCERNS > X INTRODUCES CASHTAGS FOR STOCK TRADING INTEGRATION IN THE U.S.> AUTOMATTIC EXECUTIVES SIGN RECIPROCAL SEVERANCE AGREEMENTS AMID LEADERSHIP CRISIS > ASSESSING FRONTIER MODELS' PHYSICS PROBLEM-SOLVING CAPABILITIES THROUGH EXPERT RE-GRADING > FEDERAL RESERVE IMPLEMENTS INTEREST RATE HIKE AFTER THREE-YEAR PAUSE > ELISA DE MARTEL JOINS WAYVE AS CFO AMID SELF-DRIVING TECHNOLOGY EXPANSION > DEVELOPMENT OF ACCURATE NUMERICAL MODELS FOR AMD MATRIX CORES > TRAINING A 4B LANGUAGE MODEL FOR 81% FASTER QUERY OPTIMIZATION IN POSTGRES > SCIENCE CORP CEO MAX HODAK DISCUSSES POST-SCREEN ERA AT TECHCRUNCH DISRUPT 2026 > GERMAN AI STARTUP RELOCATES PARENT COMPANY FROM US TO GERMANY> META DEVELOPS CAMERA-FREE SMART GLASSES AMID PRIVACY CONCERNS > X INTRODUCES CASHTAGS FOR STOCK TRADING INTEGRATION IN THE U.S.> AUTOMATTIC EXECUTIVES SIGN RECIPROCAL SEVERANCE AGREEMENTS AMID LEADERSHIP CRISIS > ASSESSING FRONTIER MODELS' PHYSICS PROBLEM-SOLVING CAPABILITIES THROUGH EXPERT RE-GRADING > FEDERAL RESERVE IMPLEMENTS INTEREST RATE HIKE AFTER THREE-YEAR PAUSE > ELISA DE MARTEL JOINS WAYVE AS CFO AMID SELF-DRIVING TECHNOLOGY EXPANSION > DEVELOPMENT OF ACCURATE NUMERICAL MODELS FOR AMD MATRIX CORES > TRAINING A 4B LANGUAGE MODEL FOR 81% FASTER QUERY OPTIMIZATION IN POSTGRES > SCIENCE CORP CEO MAX HODAK DISCUSSES POST-SCREEN ERA AT TECHCRUNCH DISRUPT 2026 > GERMAN AI STARTUP RELOCATES PARENT COMPANY FROM US TO GERMANY